2024-02-20 07:06:22 ET
Walmart Inc (NYSE: WMT) is trading slightly up in premarket on Tuesday after reporting market-beating results for its fiscal fourth quarter on the back of a solid holiday quarter and double digits growth in eCommerce sales.
This is a developing story. Figures missing below will be updated at received!
Walmart stock gains on upbeat guidance
Investors are cheering also because the management issued upbeat guidance for the future. Walmart now forecasts its adjusted per-share earnings to fall between $1.48 and $1.56 in Q1.
Analysts, in comparison, were at. Doug McMillon – the chief executive of Walmart Inc said in a press release on Tuesday:
We crossed $100 billion in eCommerce sales and drove share gains as our customer experience metrics improved, even during our highest volume days leading up to the holidays.
The big box retailer expects up to 5% annualised growth in sales in the current quarter. is now up roughly 15% versus its low in early December.
Watch here: https://www.youtube.com/embed/xr8CRGSL7sU?feature=oembedWalmart Q4 earnings snapshot
Earned $5.49 billion versus the year-ago $6.28 billion
Per-share earnings also declined from $2.32 to $2.03
Adjusted EPS printed at $1.80 as per the earnings report
Revenue went up 6.0% year-over-year to $173.39 billion
Consensus was $1.65 a share on $170.71 billion revenue
Walmart U.S. noted a 4.0% increase in comparable sales while the metric for Same’s Club came in up 1.9% in the fourth quarter. CEO McMillon also said on Tuesday:
We’re excited about building on our momentum as we work to bring prices down for our customers and members.
Good Morning Everyone! U.S retail sales dropped by the most in nearly ONE YEAR.
— Genevieve Roch-Decter, CFA (@GRDecter) February 15, 2024
In January, the value of retail purchases decreased -0.8% from December.
The drop was the biggest in nearly a year.
The prior month was also revised down.
Everything is fine. pic.twitter.com/mpn0yFzYwF
This is a developing story. Check back in a few minutes for more updates!
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